The worst IPO so far. Even the big boys were rushing to sell from the start to the finish; hence the free fall.

The big boys are not keen to go against general public perception that all construction counters face poor prospects because of huge property overhang.

Kitacon specialises in building terrace houses where demand is good; about 85% of it revenue comes from this segment. It is free of bank borrowings.

The overhang is mainly in highrises i.e. condos and service apartments.

This round fall is because I believe those internal staffs are selling it 🤦‍♀️

Haven’t seen any major players shorting and once this happens after the ESOS I believe it will start falling big timee

For Directors & Employees, it is only 8.59 million shares.

Whereas for Placees & MITI, it is 120.00 million shares.

It is obvious who were the main sellers on listing day.